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Understand the complexities of international tariffs and ease of doing business across nations to cultivate balanced trade relationships, streamline operations, and deliver cost savings to end consumers.

Implications
Latest US Tariffs Update for South Korea: Deals, Agreements, and Impact on Companies (as of late July 2025)
The United States and South Korea have recently reached a significant trade agreement, announced on July 30, 2025, that aims to alleviate the impact of broader US tariff policies on South Korean exports. This deal comes just ahead of President Trump's August 1 deadline for new, higher tariffs on various countries.
Deals and Agreements:
Reduced Tariff Rate: The most crucial aspect of the deal is that South Korean goods will now face a 15% tariff on imports to the US, a considerable reduction from the 25% that was initially threatened and the general 10% baseline tariff implemented earlier. This puts South Korea on par with other key US trading partners like Japan and the European Union, who have also secured 15% tariff rates.
No US Tariffs on South Korea: As part of this "full and complete trade deal," the US has declared that American goods will not be subjected to any tariffs when entering the South Korean market. South Korea is also agreed to be "completely OPEN TO TRADE" with the United States, accepting American products including cars, trucks, and agriculture.
South Korean Investment in the US: South Korea has committed to substantial investments in the United States:
$350 billion for investments "owned and controlled by the United States" and personally selected by President Trump. This fund is expected to support South Korean companies' entry into the US market.
Of this, $150 billion is earmarked for cooperation in the US shipbuilding industry, including vessel construction, maintenance, repair and overhaul (MRO) services, and component manufacturing.
An additional $200 billion will be allocated for investments in semiconductor, nuclear energy, secondary battery, and biotechnology industries in the US.Energy Purchases: South Korea has agreed to purchase $100 billion worth of Liquefied Natural Gas (LNG) or other energy products from the US over the next 3.5 years, representing a shift in its energy import strategy.
Automobiles: The 15% tariff rate will apply to South Korean automotive exports, a significant win for their car industry, as it avoids the previously threatened 25% blanket tariff on vehicles and auto parts.
Semiconductors and Pharmaceuticals: South Korean firms will not be put at a disadvantage compared to other countries regarding forthcoming US tariffs on chips and pharmaceutical products.
Exclusions/Negotiations:
Steel, Aluminum, and Copper: The agreement explicitly does not lower existing US tariffs on steel, aluminum, and copper from South Korea.
Rice and Beef Markets: South Korea successfully pushed to exclude further opening of its politically sensitive rice and beef markets from the deal, mitigating potential domestic backlash. While South Korea is the world's biggest buyer of US beef, it still restricts imports from cattle older than 30 months due to mad cow disease concerns.
Digital Services/Non-Tariff Barriers: Issues like South Korea's proposed legislation regulating online platform companies and restrictions on the export of location-based data were not addressed in this deal. Discussions on non-tariff barriers, such as food safety control, are expected to continue.KORUS FTA Implications: While the new deal provides relief, experts are evaluating whether it effectively nullifies some of the trade advantages South Korea previously enjoyed under the bilateral Korea-US Free Trade Agreement (KORUS FTA), particularly in the automotive sector where South Korean cars previously entered the US tariff-free.
Impact on South Korean Companies:
The agreement has largely been seen as a "worst avoided" scenario, providing much-needed stability and reducing uncertainty for South Korean exporters. However, challenges remain:
Automotive Industry: The reduction of tariffs on automobiles from 25% to 15% is a positive development for major South Korean automakers. However, companies like Hyundai Motor and Kia still face higher duties compared to the previous zero-tariff regime under KORUS FTA. Hyundai Motor reported a profit fall in Q2 despite solid sales, partly attributed to the US tariffs.
Semiconductor Industry: Companies like Samsung Electronics will benefit from not facing disadvantageous tariffs on chips and pharmaceuticals compared to competitors. Samsung has already secured a significant $16.5 billion chip deal with Tesla and anticipates more orders, despite recent weaker earnings in its chip division. The company is also closely monitoring a US national security probe into imports of semiconductors and electronics.
Shipbuilding Industry: South Korean shipbuilders are set to benefit from the $150 billion fund dedicated to investments in the US shipbuilding industry, which could lead to new projects and technological synergies.
Battery and Biotechnology: Companies in these sectors are poised to benefit from the $200 billion investment fund for US projects. LG Energy Solution has already signed a $4.3 billion deal to supply Tesla with energy storage system batteries.
Steel, Aluminum, and Copper: Companies in these sectors will continue to face existing US tariffs, which were not lowered in this new agreement. This remains a "blow" for South Korea's steel industry.
Overall Export Decline: Despite the relief from higher tariffs, South Korea's exports to the US declined by 3.7% in the first half of 2025, with significant drops in car and machinery exports. Experts anticipate that the 15% tariff scheme could still lead to a slowdown in overall economic growth due to its impact on exports.
Diversification of Supply Chains: The ongoing global trade tensions and the possibility of future tariff changes are likely to encourage South Korean companies to continue diversifying their manufacturing and supply chains to mitigate risks. Samsung, for instance, is already diversifying its factories for products shipped to the US.
In summary, the recent deal provides a clearer, albeit more expensive, trade environment for South Korean companies exporting to the US, emphasizing significant South Korean investment in US industries and energy purchases as key concessions.
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United States Imports from Countries during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Countries- data, historical chart and statistics - was last updated on April of 2025.
Investing in USA
theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters
Sources : Forbes | USDA Economic Research | TCGen Total Innovation Rank Index | Best States for Manufacturing | World Population Review | Tax Foundation | US News | BEA Data | Wikipedia | International Trade Administration
theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. It analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size. The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing. The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development. By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, enabling informed strategic decisions. The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington. Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally. North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables. Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment Florida holds the 4th ranking nationally for GDP and Tax Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation. Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education). Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th. Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income. Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th) New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP. California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping. Wyoming at 30th overall scores the top spot nationally in the area of Tax Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively. Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.

Economic
Relevance
Ranking
State | Info | Overall Rank | Agri | Innov | Mfg | Employ | Tax | Edu | GDP | F500 Rep | Trade Balance | Cost of Living | Disp Income |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Texas | 1 | 4 | 5 | 11 | 10 | 7 | 42 | 2 | 2 | 2 | 24 | 13 | |
North Carolina | 2 | 9 | 21 | 1 | 4 | 12 | 28 | 11 | 16 | 41 | 17 | 17 | |
Virginia | 3 | 32 | 24 | 6 | 2 | 28 | 7 | 13 | 6 | 34 | 35 | 3 | |
Florida | 4 | 21 | 11 | 15 | 1 | 4 | 35 | 4 | 7 | 40 | 30 | 37 | |
Washington | 5 | 16 | 3 | 36 | 28 | 45 | 9 | 9 | 15 | 9 | 43 | 1 | |
Missouri | 6 | 11 | 25 | 22 | 20 | 13 | 32 | 21 | 22 | 20 | 10 | 20 | |
Georgia | 7 | 15 | 26 | 9 | 3 | 26 | 34 | 8 | 9 | 43 | 26 | 19 | |
Minnesota | 8 | 6 | 10 | 47 | 6 | 44 | 8 | 20 | 10 | 33 | 33 | 9 | |
Ohio | 9 | 12 | 32 | 7 | 30 | 35 | 36 | 7 | 5 | 38 | 15 | 11 | |
Illinois | 10 | 5 | 23 | 31 | 23 | 37 | 16 | 5 | 4 | 47 | 32 | 7 |